Public ownership Daily Times of Nigeria

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dailytimes editor in chief onyema ugochukwu (right) british prime minister, margaret thatcher (center), , yemi ogunbiyi (left) @ 10 downing street on 5 may 1989


at first paper did retain degree of editorial independence. in 1979 evening news, owned dailytimes, published article saying chief rotimi williams being sued children of deceased client. rotimi sued government-owned newspaper libel. in 1980s , 1990s paper ran frequent editorials denouncing corruption , deploring decline in morals. in 1981 editor, tony momoh, summoned appear bofore senate led president, joseph wayas, on charges of contempt. in became cause célèbre, momoh established right paper protect sources. in 1983 editorial nigerian dailytimes said ..the rate of corruption, bribery, indiscipline, immorality, cheating, idleness, drug addiction, armed robbery, smuggling , other vices has assumed alarming proportion in country .


onyema ugochukwu had risen through ranks, becoming first editor of business times before going london in 1983 four-year stint editor of west africa magazine. when returned in 1987 appointed editor-in-chief of dailytimes. in april 1990, editor of punch arrested publishing cartoon implied nigerians unhappy recent attempted coup gideon orkar had failed. president of nigerian guild of editors, ugochukwu coordinated campaign persuade government release punch s editor. ugochukwu played conciliatory role between press , military government until resigned paper executive director of publications in 1994.


circulation steadily declined administrations of generals ibrahim babangida , sani abacha tightened control on newspaper in 1990s, , public turned livelier independent publications. newspaper mismanaged. on 16 december 1998, shortly before return civilian rule, hundreds of workers of dailytimes began indefinite strike because salaries 5 months in arrears. under civilian administration of president olusegun obasanjo, bureau of public enterprises started process of returning dailytimes private ownership. after failed attempt @ public offer (ipo), dailytimes nigeria plc advertised sale in 2003.


in 2004 folio communications approved preferred bidder, gaining control 96.5% of shares.








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